58 JOTUN A/S 7 PROPERTY, PLANT AND EQUIPMENT MACHINERY, ELECTRICAL VEHICLES AND CONTRUCTION (NOK THOUSAND) LAND BUILDINGS INSTALLATION EQUIPMENT IN PROGRESS TOTAL COST Balance as of 1 January 2015 14 642 718 554 94 758 1 147 596 18 649 1 994 199 Additions – 5 513 1 160 22 758 49 297 78 729 Disposals – –87 585 – –222 389 – –309 973 Balance as of 31 December 2015 14 642 636 482 95 918 947 965 67 946 1 762 955 Additions 6 151 11 627 2 336 52 300 123 403 195 816 Disposals –489 –6 392 – –74 419 – –81 300 Balance as of 31 December 2016 20 304 641 717 98 254 925 846 191 349 1 877 469 DEPRECIATION AND IMPAIRMENT Balance as of 1 January 2015 – –429 991 –21 117 –721 363 – –1 172 470 Depreciation – –20 527 –9 507 –63 385 – –93 418 Disposals – 84 766 – 219 703 – 304 469 Balance as of 31 December 2015 – –365 751 –30 624 –565 045 – –961 419 Depreciation – –19 467 –9 679 –64 892 – –94 038 Disposals – 1 949 – 73 143 – 75 091 Balance as of 31 December 2016 – –383 269 –40 303 –556 794 – –980 365 NET BOOK VALUE Balance as of 31 December 2016 20 304 258 447 57 951 369 052 191 349 897 103 Balance as of 31 December 2015 14 642 270 731 65 295 382 920 67 946 801 533 Disposals in 2015 are primarily related to the sales of two dormant production sites located in Fredrikstad and Manger, as well as demolition of production facilities in Sandefjord. Disposals in 2016 is related to demolition at Gimle in Sandefjord in preparation for construction of new facilities. See Jotun Group’s note 8 for further information.
Jotun Annual Report 2016
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